According to Odaily, South Korea's Financial Services Commission (FSC) has drafted a new bill proposing fines of up to 10% of the stolen assets against crypto exchage that have been hacked. This draft bill is based on the $36 million attack on Upbit in November 2025. If the new regulations had been in effect at that time, the fines would have reached $3.6 million, far exceeding the current $456,000 cap.
The FSC emphasizes that transactions must meet IT security standards comparable to those of traditional financial institutions. Another bill proposes a 3% fine based on annual revenue, potentially reaching $36 million; the direction of regulatory legislation is still under discussion. (Seoul Kyungjae)
